Save Article

Brazil's Deficit to Grow to 6% of GDP
Despite an Increased Surplus Target

Dow Jones Newswires

Updated Aug. 8, 2001 7:08 p.m. ET

SAO PAULO -- Brazil's fiscal deficit will grow to 6% of gross domestic product this year from 4.5% in 2000, as regional turmoil sent interest rates soaring and weakened the local currency sharply in recent months, according to government forecasts.

Addressing investors in a conference call Wednesday, Finance Ministry Executive Secretary Amaury Bier also said next year's fiscal deficit is expected to fall to 4.05% of GDP.